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title: History of Crypto Currency

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# History of Crypto Currency

## What is a Crypto Currency ?

Cryptocurrency is a decentralized form of currency which is stored in a digital ledger and once embedded into the ledger it can't be reversed. One of the most special characteristics of crypto currency that makes it different from traditional form of currency is it's privacy and immutability.

## So from where did it all started...

In the year 2009, Satoshi Nakamato presented a whitepaper based on a cryptocurrency called Bitcoin, which presented a solution that even scientists working for 2 decades can't find it. From 2009-2011, Nakamato and some core bitcoin members worked closely to develop the blockchain. The first transaction which was recorded on the block (called genesis block) is a 50 Bitcoin transaction that happened between Nakamato and Hal Finney. After 2011, whereabouts about Nakamato could never been found. Media all around the world have tried to find the real Nakamato, but still none of them couldn't succeed. The only close match ever found was Gavin Anderson, but there wasn't enough proof available to establish their link.
In 2015, a Russian-Canadian programmer brought a new blockchain platform called Ethereum, which brought the first Turing Complete language called Solidity expanding the possibility to create any type of application on the top of Ethereum. In 2016 a team of 3 members presented a new type of venture capital fund named DAO, which was built on the top of Ethereum blockchain. But after a month a hacker reversed a 70 million $ crowdfund into its own account by expoiting a bug inside the Solidity smart contract. This led to a huge number of controversies in the Ethereum Community which made the core Ethereum developers to step in and reverse the whole 70 million $ fund to the users, which was the biggest hack in the history of Cryptocurrency. But some of the community members didn't believed in the new change in the Ethereum code which led them to remain in the old codebase, leading to a new Cryptocurrency called Ethereum Classic. Slowly many projects started to grow out of the blockchain communities like Litecoin, Bitcoin Cash which grew from the bitcoin code and coins like USDC, Dao which grew from the Ethereum blockchain. Soon exchanges like Polonix, Kraken opened letting people to exchange one coin with another and created a parallel economy around the world. A new mining world created out of the blockchain which created coins out of peoples electricity and hardware power.

## So should you invest in cryptocurrency...

From my years of experience what I saw that one day crypto will become a alternate economy of the world. The privacy, simplicity in cross-border payment and decentralization made it a favourite currency in many business. The goverments all around the world are paranoid about its effects in their economy is sure effect, but they should understand a good regulatory framework in maintaining them will bring prosperity into their economy and not the vice-versa. So according to my opinion, you should definitely try to keep some crypto as your asset, and soon you will see the beauty of blockchain.